Italy rival steps in to battle O2 for broadband in Brazil

The owner of O2 is embroiled in a Brazilian bidding war for broadband today as a rival offer emerged from Italy.

Telecom Italia has offered €7 billion (£5.6 billion) in cash and shares for Brazil’s Global Village Telecom, the South American country’s leading high-speed internet and connected-television provider, owned by France’s Vivendi.